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Oil Discovery and Distribution of Wealth in Saudi Arabia and United Arab Emirates (1968)

  • Uploaded 10 years ago in the category middle east news

    thefilmarchive.org Proven oil reserves in Saudi Arabia are the second largest claimed in the world, estimated to be 267 billion barrels (42×109 m3) (Gbbl hereaf

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    thefilmarchive.org Proven oil reserves in Saudi Arabia are the second largest claimed in the world, estimated to be 267 billion barrels (42×109 m3) (Gbbl hereafter) including 2.5 Gbbl in the Saudi-Kuwaiti neutral zone.

    These reserves were the largest in the world until Venezuela announced they had increased their proven reserves to 297 Gbbl in January 2011.

    The Saudi reserves are about one-fifth of the world's total conventional oil reserves, a large fraction of these reserves comes from a small number of very large oil fields, and past production amounts to 40% of the stated reserves.

    Oil reserves in the United Arab Emirates, according to its government, are about 98 billion barrels (15.6×109 m3), almost as big as Kuwait's claimed reserves.

    Of the emirates, Abu Dhabi has most of the oil with 92 billion barrels (14.6×109 m3) while Dubai has 4 billion barrels (640×106 m3) and Sharjah has 1.5 billion barrels (240×106 m3).

    Most of the oil is in the Zakum field which is the third largest in the Middle East with an estimated 66 billion barrels (10.5×109 m3).

    The UAE produces about 2.9 million barrels per day (460×103 m3/d) of total oil liquids, but has stated its intention to increase this to 5 million barrels per day (790×103 m3/d) by 2014.

    The UAE's reserves-to-production is about 93 years.

    The petroleum industry includes the global processes of exploration, extraction, refining, transporting (often by oil tankers and pipelines), and marketing petroleum products.

    The largest ...

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